Legend:
Orange Lines:
Monthly Key Levels stating heavy support/resistance
Blue Lines: Weekly Key Levels stating light support/resistance
Green Box: Monthly Support Zone
Red Box: Monthly Resistance Zone
Turquise Boxes: TPs
The current fib setup on the weekly chart shows a retracement to the 61.8 fib has already been fulfilled. Now that it's likely that the 78.6 fib will be tested at some level, i dropped down to the daily chart where i found another fib setup which leads to two possible setups you coudl take. Both habe a good R:R ratio.
The first one is the more aggressive one with buy orders stacked around 129$ and a wide stop loss just below the 78.6 fib.
The second one is the more conservative one with buy orders stacked around 123$ and a tighter stop loss therefore also better R:R
From those entrys I would expect at least TP1 the -0.27 fib at 189$ to be met. I would sell 70% of my spot buyings there and set TP2 @ 213$ for the other 30% moving my stop loss to TP1.
If you like to discuss my analysis with me please consider joining my telegram group. Link is on my twitter.
Also I have a BTC-Tipjar if you want to show some appreciation for my work and free info I provide:
3D1F1ypdxFQcSc9bezhsJ3f4ZDjWWcFGii
Orange Lines:
Monthly Key Levels stating heavy support/resistance
Blue Lines: Weekly Key Levels stating light support/resistance
Green Box: Monthly Support Zone
Red Box: Monthly Resistance Zone
Turquise Boxes: TPs
The current fib setup on the weekly chart shows a retracement to the 61.8 fib has already been fulfilled. Now that it's likely that the 78.6 fib will be tested at some level, i dropped down to the daily chart where i found another fib setup which leads to two possible setups you coudl take. Both habe a good R:R ratio.
The first one is the more aggressive one with buy orders stacked around 129$ and a wide stop loss just below the 78.6 fib.
The second one is the more conservative one with buy orders stacked around 123$ and a tighter stop loss therefore also better R:R
From those entrys I would expect at least TP1 the -0.27 fib at 189$ to be met. I would sell 70% of my spot buyings there and set TP2 @ 213$ for the other 30% moving my stop loss to TP1.
If you like to discuss my analysis with me please consider joining my telegram group. Link is on my twitter.
Also I have a BTC-Tipjar if you want to show some appreciation for my work and free info I provide:
3D1F1ypdxFQcSc9bezhsJ3f4ZDjWWcFGii